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Home buyers will also enjoy a wide array of first-class amenities and opportunities for entertainment and relaxation at the resort-inspired clubhouse with pool and fitness areas, as well as expansive pickleball courts. Pristine lakefront access will offer homeowners many outdoor recreational activities including kayaking and fishing. Our community's finest hours have always been when we come together to help one another. In our region, Mecklenburg County is the lead agency for providing resources and services for our homeless population. However, there are also many organizations and agencies including the City of Charlotte that work tirelessly to help our homeless neighbors. “If the roof over your head is unstable, meaning you can’t afford it or you are paying more than 50% of your income to housing, then you are not thinking of much else,” she said.
Winston-Salem Home Ownership AssistanceProgram
Repayment of the down payment is not required, unless the property is sold, refinanced, or transferred within 15 years. Your loan officer or real estate agent will be in contact with the representatives of House Charlotte, on your behalf. In an effort to expedite the House Charlotte file processing, we encourage buyers to direct any questions or requests for status updates to their loan officer. To qualify, a homebuyer's income must be 80% of the area's median income or less. We will put you in touch with an approved House Charlotte lender.
House Charlotte First Time Home Buyer Program
Learn more about The Meadows at Plato Price, a community development project consisting entirely of affordable homes, and other homeownership initiatives supported by the City of Charlotte. So Centra Square here is an example of how the city and the Housing Trust Fund have worked to bring more affordable housing options to the area. Faith based partnerships like this are just one of the few ways we will be discussing in the coming months.
Additional House Charlotte Program Links
And the last step is the City of Charlotte's Housing Trust Fund, or HTF. Established in 2001, the trust fund uses voter approved housing bonds to support affordable housing and shelter options throughout the city. In the last 20 years, HTF has provided more than $230 million to fund local development, organizations and more. And that has resulted in the creation and preservation of nearly 11,000 affordable housing units in the city. Centra Square is the perfect example of the HTF working in action with multiple local partners.
Browse through our frequent homebuyer questions to learn the ins and outs of this government backed loan program. Some residents can now get up to $80,000 in assistance to buy a home in parts of west, north and east Charlotte through an expansion of the city’s House Charlotte program. The pilot program, called House Charlotte Plus, is only available in certain areas surrounding the city’s designated Corridors of Opportunity, six lower-income areas where Charlotte is focusing development spending. They’re receiving $109 million in public and private funding. Depending on your income and the Charlotte eligible neighborhood where you would like to purchase a home, you can qualify for up to $10,000 in assistance. House Charlotte homeownership program will now offer up to $80,000 in assistance for eligible residents purchasing a home within the Corridors of Opportunity.
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Pruitt Miller Realty Group understands that homeownership is a significant achievement. Our partnerships with third party service providers can provide pre-ownership counseling, credit repair and home inspection services. Click the interactive map button below to launch our mapping app that will help you determine whether or not a property is located in a designated NPAs.
“Working with your counselor, you definitely learn how to budget and you also learn the keys to maintaining good credit,” Ronisha Wood, a new homeowner, said. They are working to level out the playing field through their own real estate developments. If you have questions or would like more information, please provide requested information below. A code inspection is required, at no charge to the borrower. However, this is a code inspection, not a complete home inspection. It is highly recommended that you get a full home inspection from a reputable licensed Inspector.
All the properties displayed on this website are generated automatically from the Carolina MLS and are updated daily. Another method to find out if a home is located in one of House Charlotte program eligible neighborhoods is to search properties using our House Charlotte interactive map. As the city’s primary tool for creating and preserving affordable housing, the Housing Trust Fund provides gap financing to developers to cover the cost of building affordable developments. This gap financing helps build, restore, and repair affordable housing to ensure that Charlotteans have safe, quality, affordable places to live. Since 2018, voters have approved $150 million in affordable housing general obligation bonds to increase affordable housing production.
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To buy a home through DreamKey, you must complete homeownership and financial literacy education courses. How to Apply for House Charlotte down payment assistanceOnce qualified, we’ll have one of our House Charlotte approved lenders request House Charlotte funds on your behalf. The FHA Loan is the type of mortgage most commonly used by first-time homebuyers and there's plenty of good reasons why. It's important to note, those who are approved have to go through home buying and financial education before the house purchase is made. “They can have a loan but if there are no properties in the price range, and corporate landlords buy up cash, these properties, then people are stuck renting," Moreno said.
Not all homes in designated NPAs will qualify for down payment assistance, so contact us today for expert guidance on how to make the most out of the House Charlotte program. You can download this House Charlotte neighborhoods map to see where the neighborhoods are located. The city of Charlotte and some nonprofits hope to make homeownership more accessible through various programs, including expanding the availability of affordable housing. This Charlotte real estate website provides search tools, information and market news for home buyers and sellers.
For new construction homes less than 6 months old, a Certificate of Occupancy is required. Again, that additional $50K is for specific areas of the city – if you’re looking outside those, you can still get the $30K in assistance. Heath says there are homes available at that price point, but there seem to be fewer than years prior.
The beginning of the process started with my predecessor, the Reverend Dr. Greg Moss. And as our neighborhood was beginning to go through gentrification, he decided that St. Paul is really an anchor in this community. And so he wanted to do something that will help us to be able to administer in this community in a more tangible way. Porter said there are programs to help people of many different income levels. It's about finding the one that meets your housing needs, she explained.
It is very important to account for all sources of income for your household in determining whether or not you qualify for this program. Child support, social security, and disability count as income. Furthermore, for married couples, even though only one spouse can be on a loan for the purchase of a home, both spouses’ incomes will be taken in consideration by the House Charlotte program to determine eligibility.
Planning Academy Bootcamp is a free one-day program aimed at helping residents better understand the role planning plays in building communities. Through a bus tour, presentations, and interactive activities, participants will learn about planning in Charlotte and how they can be involved in future planning processes and help influence the future of their community. Since 2018, the City has provided more than $40 million to support efforts to end and prevent homelessness, including more than $35 million since the start of the COVID-19 pandemic. Since the beginning of the COVID-19 pandemic the City of Charlotte has allocated more than $60 million for housing and homeless support.
The City of Charlotte recently launched the Acquisition, Rehabilitate, and Resell program to preserve affordable housing in our community. Homes are purchased, rehabilitated, and then resold at affordable prices to qualified homeowners in the House Charlotte program and/or those working with our nonprofit partners. As Charlotte’s booming real estate market continues to thrive, providing access to homeownership continues to be an important and growing part of the city’s affordable housing strategy. Through the fund, the city has supported the planned development or preservation of over 6,500 units of affordable housing. They have also invested over $150 million, including the production of 66 units dedicated to homeownership.
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